IFA HOTELS AND RESORTS LIMITED - Fulfilment of the outstanding conditions precedent and finalisation announcement

Fulfilment of the outstanding conditions precedent and finalisation announcement

IFA Hotels & Resorts Limited
Incorporated in the Republic of South Africa
Registration number 1919/001318/06
Share code: IFH
ISIN code: ZAE000075669
("IFA” or the “Company")


FULFILMENT OF THE OUTSTANDING CONDITIONS PRECEDENT AND
FINALISATION ANNOUNCEMENT

IFA shareholders are referred to the announcement published on SENS on 26
July 2013, regarding the approval at the IFA shareholders’ meeting, by the
requisite majority of IFA shareholders present and voting in person or by proxy,
of the scheme of arrangement proposed by the board of IFA between IFA and its
shareholders (“the Scheme”).

Shareholders are hereby advised that all the conditions have been fulfilled or
waived, and therefore all conditions precedent to the Scheme, as detailed in the
circular issued to IFA shareholders on 27 June 2013 (“the Circular”) have been
fulfilled and accordingly the Scheme is now unconditional.

In terms of the Scheme, each IFA shareholder other than IFA KSCC, will receive
20 cents in cash for every IFA share held (the “Scheme Consideration”):

Important dates and times                                                                          2013
Last day to trade IFA shares on the JSE in order to be recorded in the
register to receive the scheme consideration on                                Friday, 30 August
Suspension of listing from the Main Board of the securities exchange owned
and operated by the JSE of IFA shares at commencement of trading on            Monday, 2 September
Scheme record date, being the time and date on which scheme participants
must be recorded in the register to receive the scheme consideration, which
is expected to be by 17:00 on                                                  Friday, 6 September
Expected operative date of the scheme on                                       Monday, 9 September
Scheme consideration expected to be paid/posted to certificated scheme
participants (if documents of title are received on or prior to 12:00 on the
scheme record date) on or about                                                Monday, 9 September
Dematerialised scheme participants expected to have their accounts (held at
their CSDP or broker) updated on                                               Monday, 9 September
Termination of listing of IFA shares from the Main Board of the securities
exchange owned and operated by the JSE at the commencement of trading          Tuesday, 10
on or about                                                                    September
Notes:
1.     All times given in this document are local times in South Africa.
2.     Share certificates may not be dematerialised or rematerialised after Friday, 30 August
       2013.

Zimbali
19 August 2013
Transactional Sponsor to IFA: PSG Capital
Legal advisor to IFA: Larson Falconer Hassan Parsee Inc.
Corporate Advisor to IFA: DEA-RU

Date: 19/08/2013 10:20:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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